Maharashtra budget 2025: Rs 40 lakh crore industrial policy to generate 50 lakh

Maharashtra Finance Minister Ajit Pawar presented his 11th state budget in the assembly unveiling a roadmap for the states industrial and economic growth A key highlight of the budget was the announcement of Maharashtras new industrial policy which aims to attract Rs 40 lakh crore in investments and generate 50 lakh jobs over the next five yearsMaharashtra continues to lead the nation in Foreign Direct Investment FDI reinforcing its position as an industrial and economic powerhouse In January 2025 at the World Economic Forum in Davos the state government signed MoUs with 63 companies securing Rs 1572 lakh crore in investments and creating 16 lakh jobsSevenpoint action plan for industrial growthSince the formation of the Mahayuti government a sevenpoint action plan has been implemented across various ministerial departments and regional offices This 100day program includes investment promotion ease of living grievance redressal and infrastructure development ensuring efficient and transparent governance A thirdparty evaluation will assess the effectiveness of these initiatives with topperforming offices receiving recognition and rewardsThe governmentrsquos focus on industrial growth extends beyond largescale industries with dedicated policies being introduced for space and defense production electronics gems and jewelry MSMEs and the circular economy Additionally Maharashtra is formulating new labor regulations in alignment with the central governmentrsquos new Labor CodeBoosting exports and SEZ developmentMaharashtra has launched the Maharashtra State Export Promotion Policy 2023 aimed at increasing the states contribution to Indiarsquos exports The policy includes the establishment of 37 Special Economic Zones SEZs 8 Agricultural Export Zones and 27 ExportOriented Industrial Parks Maharashtra currently accounts for 15437 of the countryrsquos total exports with products worth Rs 556 lakh crore exported in FY 202324 By November 2024 exports for FY 202425 had already reached Rs 358 lakh croreTo further enhance exports Maharashtra has introduced the One District One Product scheme aiming to develop districts as export hubs The state will also establish state and districtlevel export promotion councilsInfrastructure development and economic growthMaharashtra is making recordbreaking investments in infrastructure including aviation railways metro projects highways waterways ports irrigation energy and communication The newly announced Logistics Policy 2024 will develop logistics infrastructure over 10000 acres generating 5 lakh direct and indirect jobsThe Mumbai Metropolitan Region MMR is being positioned as an international financial growth hub with seven Global Trade Centers planned in BandraKurla Complex KurlaWorli Wadala Goregaon Navi Mumbai Kharghar and VirarBoisar This initiative aims to grow MMRrsquos economy from 140 billion to 300 billion by 2030 with a vision to reach 15 trillion by 2047To ensure balanced regional development the government has launched the Collective Incentive Scheme allocating Rs 6400 crore for FY 202526 Meanwhile the Maharashtra Electricity Regulatory Commission is reviewing power tariffs for the next five years with expected savings of Rs 113 lakh crore making electricity rates more competitive for industriesThe BengaluruMumbai Industrial Corridor BMIC is progressing with land acquisition which will bring industries to droughtprone regions creating employment opportunities Additionally Maharashtra will launch the Maharashtra Technical Textile Mission to establish the state as a global hub for technical textiles benefiting Vidarbharsquos cotton farmersPort development and maritime powerMaharashtrarsquos Maritime Development Policy 2023 is designed to boost port infrastructure passenger water transport and coastal tourism offering longterm concessions of up to 90 years The Vadhavan Port project in Palghar district developed jointly by the Jawaharlal Nehru Port Authority JNPA and Maharashtra Maritime Board is expected to be one of the top 10 containerhandling ports in the world With an investment of Rs 76220 crore the port will have a cargo capacity of 300 million metric tonsmdashthree times JNPArsquos current capacitymdashand is projected to be operational by 2030A third airport for Mumbai has been proposed near Vadhavan Port alongside the MumbaiAhmedabad Bullet Train station further enhancing connectivity The government is also developing modern jetties at Gateway of India Mandwa and Elephanta along with new port projects in Dighi Raigad Vengurla Sindhudurg KalherDombivli Kolset and MiraBhayander ThaneDigital transformation and skill developmentTo streamline business processes the government has enacted the Maharashtra Industries Trade and Investment Facilitation Act integrating 141 services across 17 departments under the MAITRI online platformThe Ratan Tata Maharashtra State Skill University in partnership with Microsoft is also training 10000 women in Artificial Intelligence AI and skill development to prepare them for future job opportunitiesMaharashtrarsquos vision for economic growthAjit Pawarrsquos budget presentation underscores Maharashtrarsquos commitment to maintaining its status as Indiarsquos leading industrial and economic powerhouse With Rs 40 lakh crore in targeted investments and the creation of 50 lakh jobs the state is set to witness unprecedented growth in industry infrastructure exports and employment opportunitiesBy implementing forwardthinking policies streamlining governance and investing in largescale infrastructure projects Maharashtra is reinforcing its position as the most businessfriendly and investmentattractive state in India